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Johnson & Johnson (NYSE:JNJ) is reportedly facing a new proposed class action lawsuit seeking damages and medical monitoring for women who have developed or may develop cancer due to using the company’s talc products.
Most recently, Johnson & Johnson agreed to pay $700 million to resolve a multi-state investigation into its talc-based products.
Citing a lawsuit filed on Monday in New Jersey federal court, Reuters notes the lawsuit is the first to seek medical monitoring, which involves regular testing to detect cancer early, for talc users.
This proposed class could potentially include thousands of women, excluding the over 61,000 individuals who have already filed personal injury lawsuits claiming the company’s talc contains cancer-causing asbestos.
Johnson & Johnson maintains that its talc is safe, asbestos-free, and does not cause cancer.
The law firms behind the new case are opposed to Johnson & Johnson’s proposal to settle nearly all talc claims for $6.48 billion through a prepackaged bankruptcy.
They are also pursuing a separate class action seeking to block the bankruptcy. The bankruptcy proposal requires the support of 75% of talc claimants, with the voting period ending on July 26.
Erik Haas, Johnson & Johnson’s worldwide vice president of litigation, criticized the lawsuit, describing it as “meritless” and an attempt to thwart the bankruptcy plan, Reuters highlights.
Price Action: JNJ shares are up 1.35% at $147.61 at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Posted In: JNJ
